ASAB has previously issued four bonds, primarily directed toward private individuals and all are listed. SOLT1 is listed on the First North Bond Market, and SOLT2-4 on First North Sustainable Retail Bonds. Solt2-4 are green bonds and have, in fact, been classified as “Dark Green” by the independent institute Cicero, which certifies that all funds are invested in environmentally friendly projects.
ASAB’s business operation consists of financing the construction of solar energy instillations in China, which are installed, owned and periodically serviced by the SolTech concern’s jointly owned Chinese subsidiary, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE) ASRE has a comprehensive order back log that steadily increases. Consequently, the need of capital to meet this growth is strong. For this reason, ASAB is now examining the possibility of issuing bonds directed toward a more professional investment faction on the Nordic bond market. With this goal in mind, ASAB has authorized JOOL Markets as Financial Advisor with regard to evaluating the possibility of issuing a secured senior bond.
For more information, please contact: Frederic Telander, CEO Advanced SolTech Sweden AB (publ). Tel: 070-525 16 03, email: frederic.telander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 4 December 2018, 07:00 CET.
Advanced SolTech Sweden AB (publ) – ASAB
With the goal of providing current financing for investment in China, the parent SolTech concern and its partner in China, Advanced Solar Power Hangzhou Inc., have created ASAB. The mission of ASAB’s business operation is to finance, by means of making loans to the parent concern, solar energy installations in China that are owned and periodically serviced by ASRE or its wholly owned local subsidiaries. Security for the loaned-out funds consists of the underlying assets (solar energy installations and customer receivables). The Company’s Certified Advisor Mangold Fondkommission AB ,telephone no. +46 8 5030 1550.For more info see: www.advancedsoltech.com
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is Erik Penser Bank. For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), which is jointly owned by our partner, Advanced Solar Power Hangzhou Inc. (ASP). The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
SolTech is the material supplier In both instances and – in both instances – SolTech Facade was deemed a simple and attractive solution. Veidekke’s project leader, Gisle Jacobsen, describes the choice of SolTech Façade, as follows:
“SolTech Facade was chosen by reason of its ability to test and make use of wall-mounted solar cells as an integrated part of the building’s architectural formation, while simultaneously providing a positive contribution to the building’s energy requirements.”
By using SolTech Facade, you are able to replace another building material – and thereby make both economic and environmental savings at the same time, as compared to the cost of first installing a façade and then mounting solar cells over it.
At the Strandkajen apartment complex, a project backed by ice hockey star Markus Näslund, the entire façade surface is covered with black solar cells, and a lesser number of semi-transparent solar cells, providing a well thought out and straight forward solution. The semi-transparent solar cells constitute a solar shield for the windows lying under them.
At the Norwegian school in Levre, for which black solar cells were also chosen, a section of the façade has been covered with a SolTech Façade installation as an alternative to the use of a conventional facade material. As a result, the building now has an integrated facade surface that also produces electricity.
At the Strandkajen project in Örnsköldsvik, Sweden, the façade covers a surface measuring 384 sq. meters with simulated annual production amounting to 25,190 kWh/yr. The façade of the Norwegian project measures 549 sq. meters with simulated annual production totaling 35,800 kWh/yr.
CEO Stefan Ölander comments:
”I am pleased and proud of these two SolTech Facade installations that demonstrate we are on the right path. More specifically, not only will roofs have integrated solar cells, but facades as well. The market for SolTech Facade is enormous. If the world is to meet its climate goals, then both roofs and facades must become energy producers.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email : stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 22 November 2018, 07:00 CET
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is Erik Penser Bank. For more information see: www.soltechenergy.com
The installation will produce circa 500,000 kWh, annually. The customer is contractually committed to buying all the electricity the installation produces over the span of 20 years. Over this same period, ASRE receives subsidies from Chinese authorities based on every kilowatt hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 3 MSEK. It is expected to be completed during the month of January 2019.
CEO Stefan Ölander comments:
”Our business sales in China continue to roll and our sights are now set on shortly witnessing the sum total of installed solar energy capacity passing the 100 megawatt watershed, which is equivalent to looking out over a vast field of solar panels covering the surface of 150 football fields. The subscription economy we are building in China – which can briefly be summarized as entailing a continuous succession of long term sales that provide 20 consecutive years of profitable annual income – is very valuable for our shareholders. “
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 21 November 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is Erik Penser Bank. For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), which is jointly owned by our partner, Advanced Solar Power Hangzhou Inc. (ASP). The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
The installation will generate circa 2,200,000 kWh annually. The customer is contractually committed to buying all the electricity the installation produces over the span of 20 years. Over this same period ASRE receives subsidies from Chinese authorities based on every kilowatt-hour delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 13.3 MSEK. It is expected to be completed during the month of January 2019.
CEO Stefan Ölander comments:
Taking into account the capacity of installations already coupled to the central electrical network, plus the capacity of installations currently under construction, along with the capacity reflected in recent orders that have been signed this fall, we have now reached a total solar energy capacity of 92.84 MW. And when all these 92.84 MW of electrical capacity are coupled to the network, annual income is estimated to amount to approximately 118 MSEK, or a cumulative total income of ca. 2.36 billion Swedish crowns over the span of 20 years. This subscription economy is very valuable for the concern.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 20 November 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is Erik Penser Bank. For more information see: www.soltechenergy.com
Investment in China SolTech’s investment in China is carried out by Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), which is jointly owned by our partner, Advanced Solar Power Hangzhou Inc. (ASP). The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
As previously publicized, the installation will cover a roof surface area measuring circa 35,000 sq. meters (equivalent to ca. five football fields), and annually produce ca. 3,675,000 kWh. The customer is contractually committed to buying all the electricity that the instillation produces over the course of 20 years. Over this same period, ASRE receives subsidies from the Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 22.1 MSEK (ca. 2.21 MEUR), and It is expected to be completed during the month of January 2019.
VD Stefan Ölander comments:
– We are happy about this order to the city of HuiZou (pop. 5 million), which lies northeast of Hong Kong and Shenzhen. This is a region that has one of the world’s hottest business climates – and we see strong possibilities to securing several orders. The subscription economy we are now building will continue to be very valuable to the concern over the coming 20 years.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 5 November 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is Erik Penser Bank AB. For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
The order covers the installation of a 1.1 megawatt (MW) solar energy unit estimated to provide annual earnings amounting to approximately 1.235 MSEK. Over the contract’s 20-year term, cumulative income is estimated to mount to approximately 24.7 MSEK (ca. 2.47 MEUR).
The installation’s annual production will be in the area of 1,155,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the span of 20 years. Over this same period, ASRE receives subsidies from relevant Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 6.7 MSEK (ca. 0.67 MEUR). Construction of the installation is expected to be completely finished during the month of March 2019.
CEO Stefan Ölander comments:
”A sum total capacity of 90.64 MW – that is the figure we arrive at when we total the sum capacity of installations now coupled to the electrical network with the sum capacity of installations under construction, along with the sum capacity reflected in the installation orders that have recently been signed during the course of this fall. And when all these contributors to a sum total capacity of 90.64 MW are coupled to the electrical network and generating earnings, they will provide an estimated annual income amounting to approximately 115.7 MSEK, or ca. 2.31 billion Swedish crowns in cumulative annual income over 20 years. This subscription economy application is very valuable for the concern.”
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00; email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 30 October 2018, 07:00 CET
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
SolTech intends to acquire companies actively engaged in the sale and installation of roofs, facades and solar-energy solutions. A business broker has been retained for the purpose of finding suitable candidates for acquisition that meet SolTech’s criteria. The immediate goal is to complete a first acquisition before the close of the year.
Every year, approximately 30,000 roof replacements are carried out on existing single-family homes, amounting to a retail worth of circa 5 (five) billion SEK or 500 MEUR. Via these planned acquisitions, SolTech Energy – on a concern level – will come to participate in these sales and installation channels and the opportunity to market its integrated products, which function as both a new roof and a solar cell. In addition to this market, must be added all the apartment cooperatives and public buildings – and, not least, the entire facade market.
SolTech has, from its very inception, developed esthetic and building integrated solar energy products. Thus far, it has primarily been detached solar cell units that have dominated the market. But today, virtually everyone in the solar energy field foresees the day where the market for integrated solar cells will soon be capturing a significantly greater share of the overall market
In taking this first step, SolTech will be focusing on the Swedish market, but does not rule out venturing into other markets in the future. SolTech could and would be able to increase sales organically but, given the current market situation with particularly strong growth for solar energy, our judgment is that acquisition is a better alternative for SolTech and its shareholders.
CEO Stefan Ölander comments:
– Thus far, we have been purely a product supplier for the Swedish market, In order to hasten the shift to the solar cells of the future, we now choose to acquire companies doing business in areas where our products will have a direct channel out and onto to the retail market. Solar energy, roof and facade companies – all are potential candidates. We look forward to adding competence, motivated entrepreneurs and sales channels to significantly increase growth and profit within the SolTech concern.
For more information, please contact: Stefan Ölander, CEO SolTech Energy.
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 25 October 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
For more information, please contact: Stefan Ölander, CEO SolTech Energy. Tel; 070-739 80 00, email: stefan.olander@soltechenergy.com
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
The order covers the installation of a 0.3-megawatt (MW) solar energy unit that is estimated to provide annual income amounting to approximately 339,000 SEK. Over the contract’s 20-year term, cumulative income is estimated to mount to nearly 6.8 MSEK.
The installation’s annual production will be circa 300,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the span of 20 years. Over this same period, ASRE receives subsidies from Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 1.9 MSEK. It is expected to be completely finished during the month of January 2019.
CEO Stefan Ölander comments:
– We are now up to 89.54 MW of solar energy capacity, that is; when we consider the total electrical capacity now reflected in ARSE’s financial records, by combining the total capacity of existing, income-generating installations coupled to the electric network, with the total electrical capacity of installations under construction, along with the capacity of orders recently signed through this fall. When all these installations, totaling 89.54 MW, are coupled to the electrical network, they are estimated to generate a standing annual income amounting to approximately 114.5 MSEK, or close to 2.3 billion Swedish crowns (ca. 230 MEUR) in total income over the course of 20 years.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 15 October 2018, 08:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
The installation will cover a roof surface area measuring circa 35,000 sq. meters (the equivalent of 5 football fields) and will produce circa 3,675,000 kWh annually. The customer is contractually committed to buying all the electricity that the instillation produces over the course of 20 years. Over this same period, ASRE receives subsidies from the Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 22.1 MSEK (ca. 2.21 MEUR). It is expected to be completed during the month of January 2019.
CEO Stefan Ölander comments:
– This is our second customer-signing within the span of just a few weeks i Zhangjiagang, which is – by Chinese standards – regarded as a small city with a population of circa 1.5 million residents. The city is located some 160 kilometers north of Shanghai. Our confidence in the potential of this large region’s solar energy market is strong.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 10 October 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).